Second Conditional

Article excerpt · target grammar marked

In 2023, the median Series A round diluted founders by 20 to 25 percent. If founders understood the terms before signing, they would preserve significantly more control.

Grammar Reference · Second Conditional

Second conditional —

If we had a stronger network, we would approach Series A differently. — hypothetical present or general

Second conditional —

If I were the CFO, I would restructure the equity split immediately. — imagined role or position

Hedging with second

If the valuation cap were lower, we might consider the convertible note. — softened position in negotiation

Common error

If we would have more capital... ✗ → If we had more capital... ✓ — never would in the if-clause

01Exercise 1 — Form · Write the Correct Form

Second Conditional

1.If the startup (have) a stronger brand, it would attract angel investment more easily.

2.If I (be) in charge of the negotiation, I would reject the liquidation preference clause.

3.The founders (keep) more equity if they understood the term sheet before signing.

4.If the burn rate (be) lower, we could extend the runway by six months.

5.If we (not / need) external capital, bootstrapping would be the obvious choice.

6.She (approach) the Series A round differently if the valuation cap were more favourable.

02Exercise 2 — Transform

rewrite with the new structure

1.We don't have enough runway, so we can't wait for better terms.

2.The investor's risk appetite is low, so they won't accept a convertible note.

3.We aren't profitable yet, so we can't bootstrap through the next phase.

4.The deal-breaker clause is too restrictive, so we can't sign the agreement.

03Exercise 3 — About You

in your notebook

Personalise: complete five sentences about yourself using the target grammar.

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